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The first quarter numbers of Bharti Airtel and Mahindra & Mahindra drove their shares in opposite directions today.
While M&M , which had put up a robust show in Q1 of current fiscal surged, Airtel shares fell to their 52-week low on the bourses today.
Airtel , whose net profit declined sharply despite a spike in earnings, saw its share price slump to a 52-week low of Rs 260.70 on the NSE today.
Later, it recovered marginally to Rs 262.95, a loss of Rs 11.40 or 4.16 per cent. The counter witnessed a huge trading volume of 1.85 crore shares.
The stock has lost considerable ground after hitting a 52-week high of Rs 418.95 on September 2, 2011.
But M&M shares zoomed buoyed by its Q1 results. The stock hit a high of Rs 752.40 before easing to Rs 743.75, a gain of Rs 21.05.
The stock is still some distance away from its 52-week high of Rs 877.30 it touched on October 28, 2011. The trading volume was 15.55 lakh shares.
The company had posted a sharp increase in net income and net profit in Q1 of current fiscal.
The stock had, after surging to a high of Rs 728.40 retraced a bit to close at 722.70 yesterday. But today the stock started with a gap at Rs 728.90 and touched a high of Rs 752.40 before easing to Rs 743.75.
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